Shooting though a chronograph is a fickle beast. The lighting alone can throw your results way off. A cloudy day, vs direct sunlight, and shooting in a shaded area can all give different results.
Something sounds off to me... An Osage bow at 50# with a 550 grain arrow should be faster than 127... i'd guess it should be at least 160 with a 27" draw, and higher at longer draw lengths.
I'm not into chasing speed much any more, but i was into it big time years ago, and used it a lot while prototyping different limb designs. The only consistently accurate speed testing i found was setting up a light kit and using a shooting machine indoors... btw... do NOT use under florescent light fixtures. Incandescent lighting or LED lighting only. Here is the light kit.
https://www.opticsplanet.com/caldwell-chronograph-light-kit.htmlAt one time i had a testing set up with two chronographs back to back that i shot through to confirm the accuracy. Measuring exact draw weight and draw length, & matching it on the shooting machine is critical. And weighing arrows is critical too. The most accurate tests are done with bare carbon shafts and black field tips... Even a shinny field tip can throw your numbers off a bit.
Shooting through a chrono by hand just using fingers, you will get a lot of variables and different readings. The same bow shot by a different archer will get different results too even in perfect conditions with identical draw lengths. hope this helps... Kirk